Marubeni H1 profit jumps 45% on commodities, trading; hikes annual guidance

Marubeni Corp., a major Japanese trading house, reported a significant increase in its earnings for the first half of the year, driven by surging commodity prices and strong performance in its trading units. The company's adjusted net profit rose by 45% year-on-year to 318.0 billion yen ($2.02 billion), while its non-resources profit, which includes its chemical, lifestyle, and agricultural businesses, grew sharply as well.

Revenue for the period increased by 23% to 5.180 trillion yen, and the company's adjusted net profit is now expected to reach a record-high 600 billion yen for the year, up from a prior forecast of 540 billion yen. Despite the strong results, Marubeni's shares fell by 3% to 4,676 yen following the earnings release.